POWER RATES IN CEBU INCREASES

THE Visayan Electric Company has started to collect P0.92 per kilowatt hour increase in its electricity rates for the September- October billing period.

The primary driver for this is the high price of electricity at the Wholesale Electricity Spot Market where distribution utilities like VECO buy supplemental power.

The price spike in August was triggered by a combination of factors that strained the region's power supply.